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Property profile

464 Manor St Lancaster, PA 17603

FOR SALE
Residential income homes
Property ID
US73-1737326
5,400 SF 0.16 ac lot Built 1900
Entity Owned 7-yr Hold
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fully leased, 11-unit multifamily building situated at 464-466 Manor Street in Lancaster, Pennsylvania. The property, built in 1900, boasts 5,400 square feet across three stories and is zoned for medium-density residential use. The building comprises four apartments and seven individually leased boarding rooms, providing a diverse revenue stream. Convenient off-street parking is available for residents. The asking price is $699,000, translating to $129.44 per square foot and approximately $63,545.45 per unit. Its prime downtown location offers unparalleled convenience, with easy walking access to cultural landmarks such as the Fulton Theater and the vibrant Lancaster Central Market. This well-maintained property presents a strong return on investment for a discerning buyer seeking a stable and profitable addition to their portfolio. The property's strong occupancy rate and desirable location make it an attractive proposition for both seasoned investors and those new to the multifamily market. Financial details are available upon request. This is a rare opportunity to acquire a well-positioned, income-generating asset in a thriving Pennsylvania city.

Property profile

Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1900
Construction BRICK
Total area 5,400 SF
Lot 0.16 ac (6,970 SF)
Zoning code R3
APN 338-68747-0-0000
UPID US73-1737326

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

464 Manor St Lancaster, PA 17603
Lancaster metro Census 1000 LANCASTER, PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$455k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$455k

Owner & transaction history

since 2019
5 recorded transactions
2019
$415,000
2013
$150,000
2007
$175,000
1969
Price N/A
1969
Price N/A

Zoning & alternative use

R3 · Lancaster, PA
Zoning description

ion materials and design. See also § 300-42I , which may require a larger sight triangle for a parking lot. Maximum Height of Fences, Walls and Hedges Height Limitations Measured from Grade Residential Districts R1, R2,…

General category CIVIC_INSTITUTIONAL
Top alternative use upside
Auto repair, garage $700,000 +54.9%
Restaurant $690,000 +52.1%
Retail stores $665,000 +46.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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